Guru Investment Theses on LIN Media LLC

Mario Gabelli Comments on LIN Media LLC - Oct 28, 2014

LIN Media LLC (0.3%) (LIN)($22.20 - NYSE) is a Providence, Rhode Island based multimedia company with forty-three television stations and seven digital channels in over twenty U.S. markets. On March 21, 2014, Media General Inc., another broadcasting company, announced that it would acquire LIN in a $2.6 billion merger. Each shareholder of LIN can elect to receive $27.82 in cash or 1.5762 shares of the new holding company, subject to proration. On August 20, 2014, LIN and Media General announced an amendment to the merger agreement, which reduced the merger consideration to either $25.97 in cash or 1.4714 shares of the new holding company, after an affiliation change occurred at one of LIN’s stations in August. The companies also announced the planned divestitures of stations in five markets to comply with regulatory rules. The deal is expected to close by late 2014 after both companies receive shareholder and U.S. regulatory approvals.

Mario Gabelli Comments on LIN Media - Apr 30, 2014

LIN Media LLC (LIN) (0.1%) (LIN - $26.50 - NYSE) is a Providence, Rhode Island based multimedia company with forty-three television stations and seven digital channels in over twenty U.S. markets. On March 21, 2014, Media General Inc., another broadcasting company, announced that it would acquire LIN in a $1.6 billion merger. Each shareholder of LIN can elect to receive $27.82 in cash or 1.5762 shares of a new holding company, subject to proration. The deal has a "window-shop" period through April 25, 2014 and is expected to close in early 2015 after both companies receive shareholder and U.S. regulatory approvals.

Top Ranked Articles about LIN Media LLC

LIN Media LLC (0.3%) (LIN)($22.20 - NYSE) is a Providence, Rhode Island based multimedia company with forty-three television stations and seven digital channels in over twenty U.S. markets. On March 21, 2014, Media General Inc., another broadcasting company, announced that it would acquire LIN in a $2.6 billion merger. Each shareholder of LIN can elect to receive $27.82 in cash or 1.5762 shares of the new holding company, subject to proration. On August 20, 2014, LIN and Media General announced an amendment to the merger agreement, which reduced the merger consideration to either $25.97 in cash or 1.4714 shares of the new holding company, after an affiliation change occurred at one of LIN’s stations in August. The companies also announced the planned divestitures of stations in five markets to comply with regulatory rules. The deal is expected to close by late 2014 after both companies receive shareholder and U.S. regulatory approvals. Read more...

LIN Media LLC (LIN) (0.1%) (LIN - $26.50 - NYSE) is a Providence, Rhode Island based multimedia company with forty-three television stations and seven digital channels in over twenty U.S. markets. On March 21, 2014, Media General Inc., another broadcasting company, announced that it would acquire LIN in a $1.6 billion merger. Each shareholder of LIN can elect to receive $27.82 in cash or 1.5762 shares of a new holding company, subject to proration. The deal has a "window-shop" period through April 25, 2014 and is expected to close in early 2015 after both companies receive shareholder and U.S. regulatory approvals. Read more...

This morning we will take a look at the latest Real Time Picks from the gurus. A schedule 13G indicates the investor will take a passive role. A schedule 13D indicates the investor may take a more active role. Here are the latest filings: Read more...

Business Description

LIN Media LLC, formerly LIN TV Corp., was incorporated on February 11, 1998. The Company is a local multimedia company that operates or services approximately 43 television stations and seven digital channels in 23 U.S. markets, and a diverse portfolio of web sites, apps and mobile products. Its television stations deliver superior local news, community service, and popular sports and entertainment programming to viewers, reaching U.S. television homes. All of its television stations are affiliated with a national broadcast network and are primarily located in the top 75 Designated Market Areas as measured by Nielsen Media Research. Its digital media division operates from 31 markets across the country, including New York City, Los Angeles, San Francisco, Chicago, Atlanta, Dallas, Detroit and Washington D.C. The Company provides free, over-the-air broadcasts of its programming 24 hours per day to the communities its are licensed to serve. In its local markets, it competes directly against other local broadcast stations and cable networks carried on cable, satellite television and telecommunication systems for audience. It also competes with online video services, including local news websites and websites such as hulu.com, Netflix and Amazon Prime. Its television operations are subject to the jurisdiction of the FCC.

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